Crude oil price keeps its stability below 49.05 level, to keep the negative effect of the head and shoulders' pattern valid until now, supported by the negative pressure provided by the EMA50, waiting to resume the bearish bias to target 46.20 areas mainly.
Stochastic current positivity might push the price to retest 49.05 level before turning back to decline again, noting that the continuation of the expected bearish trend depends on the stability below 49.05 and 49.75 levels.
Expected trading range for today is between 46.20 support and 50.00 resistance.
Expected trend for today: Bearish